Banking and Financial Institutions MCQ Questions and Solutions with Explanations

Banking and Financial Institutions MCQ Questions and Solutions with Explanations | Commerce

Banking and Financial Institutions MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Banking and Financial Institutions MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-5 section-11

National Housing Bank was established in 1987 as wholly owned subsidiary of which of the following?

A) State Bank of India B) Life Insurance Corporation of India C) Reserve Bank of India D) Industrial Finance Corporation of India

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Answer & Solution

Answer: Option C

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NSE's Certification in Financial Markets (NCFM) is a necessary qualification for becoming a trading member.

A) Yes B) No C) Both A and B D) None of these

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Answer & Solution

Answer: Option A

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The Chairman of NABARD is

A) Governor of R.B.I. B) Finance Minister C) Deputy Governor of R.B.I. D) None of the above

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Answer & Solution

Answer: Option D

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Which purpose of the following is to hold the negligent person responsible for the loss and prevent the insured from collecting twice for the same loss?

A) Subrogation B) Indemnity C) Insurable interest D) Contribution

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Answer & Solution

Answer: Option A

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RBI set up the Agricultural Refinance Corporation (ARC) in 1963 to work as a refinancing agency in providing medium term and long-term agricultural credit to support investment credit needs for agricultural development. In 1975, ARC was renamed as Agriculture Refinance and Development Corporation (ARDC) to give focused attention to credit offtake, development and promotion of the agricultural sector. Ultimately, NABARD was set by RBI in 1982 whose main function is that it:

A) directly lends and monitors the rural borrowers B) refinances the banks extending rural finance C) refinances the rural borrowers obtaining credit from banks D) directly finances the rural borrowers and gets refinance from government

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Answer & Solution

Answer: Option B

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PRAN Stands for:

A) Permanent Retirement Account Number B) Pension Retirement Account Number C) Permanent Referral Account Number D) None of the Above

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Answer & Solution

Answer: Option A

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